Matt Hougan, the Chief Investment Officer of Bitwise, which manages $12 billion in assets, believes that BTC is now preparing for unprecedented growth.
Hougan acknowledged that in recent months the first cryptocurrency has experienced one of its most unstable periods. However, once the crypto market stabilizes, BTC will reach recent historical highs and even surpass them. The Bitwise executive reminded that during the coronavirus pandemic, BTC fell below $5,000, while today's price minimum has settled at $80,000.
The expert stated that BTC has evolved from a speculative cryptocurrency into a legitimate macro asset, as it is being invested in by institutional investors: hedge funds, corporations, and even sovereign wealth funds. As a result, BTC has become more resilient, unlike in 2020, when panic dominated the crypto market.
Today's BTC holders believe more strongly in its long-term potential, said Hougan. Moreover, BTC is no longer threatened by government bans. When U.S. President D. Trump signed an order to create a state reserve in BTC, it enhanced the long-term viability of the first cryptocurrency, concluded the Bitwise executive.
In February, Hougan stated that altcoins have entered a difficult period, and only BTC, SOL, and XRP will remain in the 'green zone'.